Barcelona are still in a delicate financial situation - Javier Faus

The club's vice president of finance has taken the time to explain the Champions League holders' accounts, and has made it clear that there is still work to do in this area

Barcelona vice president of finance Javier Faus has revealed that the Spanish champions still find themselves in a delicate financial situation, despite the fact that they have reduced their debt by 15 per cent.

The Camp Nou side were in the red to the tune of €430 million last year, and although this figure has been reduced to €364m, Faus feels that there is still work to be done.

"We followed an austere line, as we’re committed to growth, and we’ve reduced the debt, but we are still in a delicate situation. The debt is still too high for us to be able to dictate our future," Faus said on the club's official website.

"It’s not the debt that we want, and we have to reduce it further to sustainable levels with regard to the cash flow generated by the club. We’ll continue to work on it. We can’t afford to owe so much money to the bank, and we need to generate more income."

The Champions League holders spent over €60m this summer to secure the services of Cesc Fabregas and Alexis Sanchez, while players like Bojan Krkic, Oriol Romeu and Jeffren Suarez were sold.